Economics Dictionary of Arguments

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Causality: causality is the relation between two (separate) entities, whereby a state change of the one entity causes the state of the other entity to change. Nowadays it is assumed that an energy transfer is crucial for talking about a causal link.
D. Hume was the first to consistently deny the observability of cause and effect. (David Hume Eine Untersuchung über den menschlichen Verstand, Hamburg, 1993, p. 95).

Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments.

Author Item Summary Meta data
I 56
Causality/Big Data/Mayer-Schönberger: the causality between factors no longer plays a role in the analysis of very large amounts of data. It is all about correlation. For example, in 2011 FICO (Fair Issac Corporation) found that people who lived longer at the same address, were married for a long time and owned a car, took their medication more regularly. Here no causal relationship is assumed between owning a car and taking medication, nor does it exist.
I 64
Think/Daniel Kahneman/Mayer-Schönberger: according to Kahneman, who differentiates between two kinds of thinking - quick and slow thinking - fast thinking tends to assume causal relationships where none are. It is designed to confirm existing knowledge and beliefs. This thinking will have helped us in former times to survive in a dangerous environment, where we often had to make quick decisions. (1)
I 66
Through correlations we get an impression of the important variables that we can then use in experiments to investigate causality.
I 67
Causality: the search for it will take place after the Big Data analysis has done its work.

1. Daniel Kahneman, Thinking, Fast and Slow (Farrar, Straus and Giroux, 2011), pp. 74–75.

Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution.
The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

MSchoen I
Viktor Mayer-Schönberger
Big Data: A Revolution That Will Transform How We Live, Work, and Think New York 2013

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